Brothers, pay attention to what's unfolding! ⚠️ The Trump-Musk effect that has influenced the market for nearly a month is nearing its end. As the month closes, Bitcoin's monthly closing price is likely to settle between $96,000 and $97,500. However, we could see a decline in December, followed by a brief rally between December 1-3. After that, a major drop is expected around December 5, with high chances of a significant plummet on that date. Make sure you're cautious during this period!
Looking back at previous bull markets, such as 2020-2021, we saw a similar pattern. The first stage of the market began in October 2020, with six consecutive months of growth, peaking in March 2021. However, a sharp decline in April led to a 53% drop. The second stage began in September 2021, pushing Bitcoin to new highs, but also followed by a steep fall from $64,854 to $28,805.
In the current bull market, which began in October 2023, we’ve seen a similar trajectory. After a six-month rise, Bitcoin reached $73,777 in March 2024. The second phase, starting in September, saw Bitcoin touching $99,588 in November. The market has been unpredictable, fluctuating between significant gains and losses. Despite Bitcoin reaching near $100,000, the participation of new institutional investors has created a dynamic where both old and new players are aiming to harvest profits. With new institutional investors holding positions at less favorable prices, they might not be satisfied with Bitcoin just reaching $80,000.
The market trend from April to August 2024 has been unprecedented, with the old institutions continuing to lead. As new investors become more experienced, the traditional methods of manipulating the market are losing their effectiveness. Therefore, it’s possible that Bitcoin will not stop at $99,588, and we could even see prices reaching $120,000 in the near future. Stay alert as these market movements unfold!